It's been a rough ride on the Cable lately. Pair fell 80 pips after the Bear Flag
break, rallied 140 pips into the former support zone
and was then rejected, falling another 100 pips. Pair is now once again testing the former support zone
and appears to be trading in a descending channel
. We continue to look for a move into the next support zone
above 1.3050. A daily close above the descending channel
top at 1.3275 (and falling) would turn us neutral.